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Harmonization of Frameworks

This project aims to harmonize the COREP and FINREP frameworks published by a common organization, facilitating understanding for banking institutions, IT departments, and software vendors. By aligning data formats and structural definitions, it minimizes organizational risks and streamlines operations. Commonalities include consistent cell colors, unique numbering systems, and clear validation rules, while differences like notation for validation rules are clarified for unification. Embrace the golden rule of working together for seamless integration.

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Harmonization of Frameworks

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  1. Harmonization of Frameworks COREP FINREP

  2. Harmonisation of the CEBS frameworks • Both frameworks are published by a common organisation • Supervision corporate identity, • Eases the comprehension for banking institutions implementing both frameworks, • Eases the comprehension of IT departments and software vendors dealing with both frameworks, • If one framework is known, the other framework shall be intuitively understood, • Prevents organisational risks by misinterpretations of structural definitions, • Data formats are also being harmonised.

  3. Differences in nomenclature • Same meaning of cell colours • grey colour • criss crossed • yellow colour • unique definition of positive or negative numbers • unique location for clarifications • unique location for references • unique numbering system • unique presentation of validation rules UNIFICATION

  4. Differences in nomenclature

  5. Further commonalities • Signs: How to express negative quantities, rules of identification of credit/debit cells… • Cell identification • Notation for validation rules • Proportionality: Potential impact in validation rules. • And so on Golden Rule: Working together 

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